We recently reported on this year’s summer vacation habits here. Summer trips for Americans are up by 13% from last year; that’s 198 million Americans hitting the roads, skies or rails this summer. A new survey from Allianz Global Assistance gives us more insight on the travel habits and interesting preferences of millennials.
Millennials between 18 and 34 are more trusting of Home Away, Airbnb, Uber, and Lyft to book travel experiences. A majority (60%) of millennials trust this “sharing economy,” compared to other travelers at 37%. With these services still relatively new, Joe Mason, Chief Marketing Officer at Allianz Global Assistance USA, makes the point that it’s especially important to protect yourself with travel insurance.
“The right policy will protect a consumer’s investment regardless of whether it’s made with the new sharing economy or with more established methods,” says Mason.
The survey also indicates that travelers are really seeking value this summer. Americans will spend less on their vacation ($85.5 billion) in 2015, which is down 13.5% from 2014 ($98.8 billion). The decline is seen most in millennials, interestingly the most confident of any age group in taking a summer vacation (50.5%). So millennials feel most confident about their impulse toward travel, but remain conscious of their spending.
It’s good to see at least millennials see the value in taking a break from their careers this summer to disconnect and relax or explore, regardless of how much they can afford to spend.
Now, if only those other generations would treat themselves to the same well-deserved time off!
The Vacation Confidence Index has been conducted by national polling firm Ipsos Public Affairs on behalf of Allianz Global Assistance USA. A vacation is defined as a trip of at least a week to a spot that is more than 100 miles from home. Disclaimer: JohnnyJet.com has a working relationship Alliance Global Assistance. However, the opinions expressed in this post are mine based on the findings of the Vacation Confidence Index.
Chase Sapphire Preferred® Card
- Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.